Long-term Bitcoin holding always gives people the greatest chance of success, so investing according to a 5 to 10 year plan will give you a very good chance of success, but to sustain this investment in the long term, people will always have to face difficult situations, so it should never be seen as easy, it is more difficult than people expect, especially for those who decide to invest in Bitcoin without any emergency fund due to their self-confidence, this can really lead to a terrible situation, and this is why it is essential to prepare an emergency fund if you want to hold Bitcoin effectively in the long term, having an emergency fund reduces the mental stress in investing a lot, because you do not have to sell Bitcoin suddenly, and as a result, no matter what situation arises, your Bitcoin investment will not be threatened in any way.

Before investing, you must have your discretionary income and think about what Dollar Cost Average means, how it works and how to set it in your investment profile. If your income does not meet your basic needs, then you will not be able to maintain your investment in any way for a long time. So, if you want to invest in any asset or Bitcoin for the long term, you must have discretionary income and emergency backup funds, only then can you invest constantly, otherwise your financial flow will be lost in the middle of the investment and due to your needs, you will spend money from there and meet basic needs, which will ruin your investment. So your income should be used to meet your basic needs and if there is excess cash left every month or week, then you can invest that excess or remaining money in Bitcoin and you can set the DCA strategy in your profile and observe whether it is working properly.

Fair enough, no doubt the importance of the emergency funds can not be over emphasized when it comes to our bitcoin investment plan because it really helps to keep our investment afloat as we don’t have to tend to selling our bitcoin holdings when in an emergency situation which requires cash to settle. But it’s not mandatory that you must first create an emergency funds before you get started in accumulating or investing in bitcoin. Not being able to first create the emergency funds shouldn’t stop you from getting started with your bitcoin investment, as you can always build your emergency funds as time goes on and even alongside when accumulating and investing bitcoin . The most important thing is to be able to figure out a discretionary income so you can get started with your accumulation of bitcoin and hold for the long term goal and along the line you can be able to create your emergency funds and remain consistent with your accumulation so you can achieve a significant level of success in your bitcoin investment.

I agree with you, it’s not a must to have an emergency fund before starting an investment. That’s where many people get it wrong. They assume that because Bitcoin is always changing in price, they must first have an emergency fund before beginning their journey. But it doesn’t really work that way, what is more important is having discretionary income, so we can keep investing regularly. If we wait until everything is perfect, we may end up buying at an even higher price.

It’s not about starting perfectly, it’s about starting somewhere, from there we can gradually build an emergency fund while still accumulating Bitcoin. If we overthink the price and delay because we want backup funds first, we might miss opportunities. Nobody knows whether the price will dip or rise tomorrow, so the best method is to start with what we can and grow gradually as you’re investing.

You are actually very correct, long term holding sound simple on the paper but living through the volatility, especially during crashes or personal emergencies is a whole different game having emergency fund isn't just smart financially it is what gives you the peace of mind to actually hold through the chaos. most people underestimate the psychological side of investing.

Talking about this your statement here, I don't necessarily think that you must be solid financially before you can start investing in Bitcoin, once you have a discretionary income that will enable you to invest in Bitcoin consistently, you are good to go, along the line you can be working on your finances to make it more stable and reliable, but waiting to build a solid foundation financially first before starting is another way to delay your Bitcoin investment journey.
Yes, you are actually right here, investment in Bitcoin should only be done with our discretionary income, which is Money left after all our basic needs have been met, so that we will not be in any kind of pressure financially, so you are actually right here.

If a person waits to invest, to study, to learn, to practice, to plan and to re-engineer before investing, then it will never be the right decision. Because a person needs to start investing first. It does not require much to start investing, if a person has basic knowledge about Bitcoin and a source of discretionary income, then that person can start investing. If a person waits to gain knowledge, then it will never be the right decision. You can learn everything after investing. So we never need much before investing.

Dareo I don’t understand this advice or suggestion you’re trying to make here, Are you hinting on investing in Altcoins and shitcoins as a way of providing safety to your bitcoin investments?. Concentrating solely on bitcoin isn’t such a bad thing and the risk is still minimal at worst so Long as it’s a long term investment. You make it sound like bitcoin investment can’t stand on its own and needs other investments to balance it and this idea is totally wrong, you don’t need any additional investments to act as your safety net while investing in bitcoin so long as you’re doing it right ,and if you’ve been following this thread you’ll know how best to go about your bitcoin investments.

This is not going to be a permanent dip, it's obvious that the market is just going through a low and pullback phase. At such a periods it's normal for newbies to start panicking and selling their tokens because they are scared of losing. Bitcoin is a long term investment, that means that these little changes in the market shouldn't get you worried because you are focused more on that profit you are going to get in the future. People are also going to use that to start buying

We can't predict correctly what the price will be, currently we are seeing some decline in price of Bitcoin some weeks back we celebrated a new ATH suddenly the price starts dipping, it is also a good time to accumulate more Bitcoin because Bitcoin price will still increase those who has enough reserve fund can use this opportunity to accumulate Bitcoin aggressively since the price won't keep dipping because as a volatile asset it keep fluctuating i believe we can still see another ATH before the end of next month.

Bitcoin in September isn't what people were expecting, the price is reducing and people have lost a lot of money but this is not really a significant dip..it's just a pullback before the price actually goes back up and it might be higher than the price it hit in July. This are our analysis but that crypto market cannot be predicted totally. This has shown how unpredictable Bitcoin can be. By the end of the year we are supposed to get a good result from it

The price of Bitcoin is still relatively low compared to the future. However, this year the price of Bitcoin has not fallen much, nor has it gone up. However, it has been observed that it has reached an all-time high. However, the price of Bitcoin has been relatively stable for the past few months. There are still many people who are holding Bitcoin, but the holders are now many rich people. Or large institutions. And taking advantage of this price increase, many people who have invested in Bitcoin for the last 10 years or have been investing regularly are selling it at this time. Maybe that is why Bitcoin is available in the market. And because there are institutions and people to hold it, those Bitcoins are being sold. That is why the price is not rising much.

If you have really invested so much money in Bitcoin, then of course you are in a lot of profit now. If you need a lot of money, then you can sell some amount from here, and if not, then of course I would say you should hold it. Because we have not yet entered the highest price of Bitcoin because it will enter a higher position in the future. We have seen that when Bitcoin started, its price was very low but it has increased a lot at present and the popularity of Bitcoin is increasing day by day.
Moreover, you can search in different places and see that Bitcoin is currently being invested in many countries of the world and companies are creating their reserves. Basically, this is to help them financially, so if you own so many Bitcoins, I would say you should never sell it, but rather hold it, something good will come to you in the future.

Before investing, you must have your discretionary income and think about what Dollar Cost Average means, how it works and how to set it in your investment profile. If your income does not meet your basic needs, then you will not be able to maintain your investment in any way for a long time. So, if you want to invest in any asset or Bitcoin for the long term, you must have discretionary income and emergency backup funds, only then can you invest constantly, otherwise your financial flow will be lost in the middle of the investment and due to your needs, you will spend money from there and meet basic needs, which will ruin your investment. So your income should be used to meet your basic needs and if there is excess cash left every month or week, then you can invest that excess or remaining money in Bitcoin and you can set the DCA strategy in your profile and observe whether it is working properly.